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UPS to Cut 12,000 Jobs as Delivery Business Slows; Stock drops 8% this morning
WSJ ^ | 30 January 2024 | Esther Fung

Posted on 01/30/2024 7:18:30 AM PST by NautiNurse

United Parcel Service said Tuesday that it plans to cut about 12,000 jobs this year, a move that the package-delivery giant said would result in $1 billion in savings.

Most of the cuts will be to full-time and part-time management positions and contract workers, and executives said they don’t expect these jobs to return when parcel volumes return.

UPS has around 85,000 workers in management.

[Snip]

The job cuts were unveiled after the company said its revenue declined in the last quarter of 2023 as volumes in both its domestic and international businesses dropped.

(Excerpt) Read more at wsj.com ...


TOPICS: Business/Economy; Extended News; Front Page News; News/Current Events; Politics/Elections
KEYWORDS: bigbrown; economy; freight; layoffs; shipping; stockmarket; ups; upsstock
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To: NautiNurse

We’re all gonna die.


21 posted on 01/30/2024 7:32:47 AM PST by SaxxonWoods (Are you ready for Black Lives MAGA? It's coming.)
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To: NautiNurse

“UPS has around 85,000 workers in management...”

Bloated. Lose all the dead wood/HR/deputies to the assistant deputies/DEI commissars/deputy DEI commissars, etc. (Sounds like the Union government bureaucracy/nomenclatura.)


22 posted on 01/30/2024 7:33:45 AM PST by Bonemaker (invictus maneo)
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To: NautiNurse

America misses $1.80/gal and no inflation.


23 posted on 01/30/2024 7:34:13 AM PST by bray (You can tell who the Commies fear.)
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To: Bobalu
Amazon shifted from UPS to USPS for most of their shipping.
It’s about to wear out my mail carrier, he’s not used to all these packages.

Same here. Mail carrier is struggling with all of the small packages, and the occasional larger box.

24 posted on 01/30/2024 7:36:15 AM PST by NautiNurse (🇺🇸 Bidenomics: "Over a billion three hundred million trillion three hundred million dollars!")
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To: NautiNurse

Bidenomics! Isn’t it great?

Best economy ever! Eva’ I say!


25 posted on 01/30/2024 7:37:26 AM PST by CFW (I will not comply!)
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To: NautiNurse

Let’s go Brandon!


26 posted on 01/30/2024 7:39:59 AM PST by blueunicorn6 ("A crack shot and a good dancer” )
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To: NautiNurse

I think the economy is rapidly slowing down and we’ll be seeing more of this in coming days and weeks.


27 posted on 01/30/2024 7:40:51 AM PST by Reno89519 (Biden, Democrats, and Some Republicans may have surrendered, but I have not. Defend America!)
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To: NautiNurse

They sent my mailman out with 6 large solar panels I ordered from Amazon, he had to make an extra trip just to handle them in his small vehicle.... it’s nuts!

I have refrained from ordering large items lately, just to spare the poor mailguy... will have to start ordering from suppliers directly I guess.


28 posted on 01/30/2024 7:41:12 AM PST by Bobalu (I can’t even feign surprise anymore.)
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To: Bon of Babble; FRiends

Agreed. Even in Rural America, it’ll be Fed EX delivering 3 to 1 over UPS on items we order. (Farm machinery parts and pet supplies).

Of course, Fed Ex STILL won’t deliver to the house in the winter - they leave packages that don’t fit in our HUGE mailbox a mile away in the snowbank at the top of the hill down to our farm. (We DO plow the snow!)

*Rolleyes*

Haven’t lost anything to the coyotes...yet! ;)


29 posted on 01/30/2024 7:41:44 AM PST by Diana in Wisconsin (I don't have, 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set. )
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To: NautiNurse

It’s always a good day when the big brown truck shows up in my driveway.


30 posted on 01/30/2024 7:42:28 AM PST by kawhill (kawhill)
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To: Carriage Hill

That 85K got my attention, too.


31 posted on 01/30/2024 7:42:33 AM PST by ComputerGuy (Heavily-medicated for your protection)
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To: avital2

“Most of the cuts will be to full-time and part-time management positions and contract workers”

How many of these will be Teamsters? Or is your point the Teamsters get paid and others suffer?


32 posted on 01/30/2024 7:43:09 AM PST by LeonardFMason
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To: All

Of all the package delivery companies Amazon is the worst. I don’t even blame the driver but the company doesn’t even put the same people in the same area every day so they can learn where everything is. Lots of mistakes


33 posted on 01/30/2024 7:43:11 AM PST by escapefromboston (Peace, commerce and honest friendship with all nations, entangling alliances with none.)
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To: Diana in Wisconsin

I also see many deliveries by the US postal service, especially on Sundays in my area - they want to get into the lucrative delivery business as well.

Delivery trucks are ALWAYS in my neighborhood (drives the dogs crazy) - and UPS is the one I see the least. Ditto for San Francisco which is even more delivery - crazy than here (no one wants to move their car, stores are closing, parking lots are always full, etc., delivery is a better solution for them).


34 posted on 01/30/2024 7:45:16 AM PST by Bon of Babble (You Say You Want a Revolution?)
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To: NautiNurse

People tend to ship less (or find alternatives) when you raise rates more than the competition. It isn’t rocket science.


35 posted on 01/30/2024 7:46:32 AM PST by Vigilanteman (The politicized state destroys aspects of civil society, human kindness and private charity.)
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To: Bobalu

Depends on where you are, When i was a rural area Amazon delivered to the local post and the post office delivered them. But where i am now 99% is by Amazon trucks.


36 posted on 01/30/2024 7:47:40 AM PST by rottweiller_inc (inter canem et lupum)
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To: NautiNurse

It’s funny how the thugs and gangsters who run the union never lose their jobs. It’s always the workers.


37 posted on 01/30/2024 7:47:41 AM PST by FlingWingFlyer ( Joe Pedo's America! The Motel 6 to the world. Joe's Border Patrol will keep the light on for you.)
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To: Vermont Lt

Cardboard (the real term in “corrugated”), yes. Pallets, much less so, because you may be using pallets with smaller loads.


38 posted on 01/30/2024 7:48:58 AM PST by Vigilanteman (The politicized state destroys aspects of civil society, human kindness and private charity.)
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To: LeonardFMason

“Teamsters get paid and others suffer?”

I suspect union seniority is a major reason why Detroit became Destroyed.


39 posted on 01/30/2024 7:50:26 AM PST by Brian Griffin
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To: Bon of Babble

Seems like Amazon ...


I don’t know how Amazon does it but I can order something in the morning and get it the same day, even on Sunday.

There are been times I have had three different deliveries on the same day by different drivers (the items coming from different places).

I pay a yearly Prime fee so that all deliveries are FREE. I don’t just get free deliveries but I have access to thousands of videos on their streaming channel.

Amazon has changed the business model.


40 posted on 01/30/2024 7:50:55 AM PST by CIB-173RDABN (I am not an expert in anything, and my opinion is just that, an opinion. I may be wrong.)
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